Post 204

A snapshot of what’s going on in the world’s economy.  Financial Ructions and book reviews can be a bit more technical so feel free to skip them.  See disclaimer at the end of this note.

Summary

  • Inflation rising again in Canada but falling in the UK from higher levels.
  • More signs that the US economy is slowing with parts of it definitely in retreat.
  • More price over volume with even pets starting to feel it.
  • Global debt has hit a new record.
  • Disney theme parks benefitting from much higher prices.
  • Most of the excess savings of Americans, that was built up during Covid with stimulus cheques a plenty, are now gone.
    • And student debt repayments have resumed.
  • Some more housing stuff.
    • Politicians are now begrudgingly admitting that we have a housing problem, but they believe the answer is to simply stop house prices from going higher.  It’s not the answer.
  • I finish my review of the chapter Deposit Banking from Rothbards’s The Mystery of Banking.